The holiday season has arrived, and many Americans are finding that the usual mix of celebration and stress feels heavier this year. Gift lists, travel plans, and family expectations now collide with headlines about layoffs, slowed hiring, and an economy that seems to shift week by week. For many, the season’s joy is tempered by a quiet undercurrent of anxiety.
“Layoffs in both the governmental and private sectors have surged, contributing to the increase in unemployment levels since the historic lows experienced in 2022,” said Oscar Holmes IV, a professor of management and director of the Rutgers University Student Executive (RUSE) program at the Rutgers School of Business–Camden.
This combination of sluggish job growth and rising unemployment underscores the challenges many face as they try to balance professional uncertainty with the emotional demands of the holiday season.
“The very nature of economic uncertainty means that financial resources may be strained,” Holmes said. “Experiencing this economic uncertainty at the same time as the holiday season is a recipe for colossal stress for workers and job seekers.”
Holmes points to the annual holiday outlook survey issued by global consulting firm PwC, which estimates that consumers expect to spend 5% less this year compared with 2024, which is the first notable drop since 2020. Even more telling, 84% of respondents say they plan to reduce spending over the next six months due to rising prices, new tariffs, and the overall higher cost of living.
In such unpredictable times, Holmes notes that workplace culture becomes even more important for companies and employees alike.
“Workplace culture is extremely important in how people experience their workplaces and how they make sense of what happens to them,” Holmes said. “In challenging times, the best thing managers can do to support their employees is to help them find solutions to eliminate or mitigate their economic or personal stressors. That might come in offering someone more shifts, overtime pay, pay advances, access to employee assistance programs, or discount privileges with other organizations.”
Even when tangible solutions aren’t possible, Holmes emphasizes that offering emotional support or helping employees connect with others who may provide career guidance can make a meaningful difference. What matters most, he added, is ensuring that communication remains open and clear.
“Leaders should make the content of their messages clear, rather than trying to beat around the bush and downplay the reality,” Holmes said. “They should acknowledge the emotions that the situation might evoke and provide resources that could help their employees navigate the instability. Additionally, they should maintain open communication channels so that they are receptive to feedback and adjust as needed.”
For those worried about the broader economy—and their own job security—this holiday season, Holmes urges people to start by giving themselves permission to slow down and regroup.
“Although it may seem counterintuitive, sometimes it's best to slow down or pause for a moment to prioritize self-care,” Holmes said. “This might be a modest spa day or simply spending time with people who will love on you and reaffirm your worth. Once you've taken some time to engage in self-care, then it is time to work your network and online job boards to search for more stable employment opportunities.
“And be honest with your loved ones about your situation to properly manage expectations. For example, someone might say that instead of all the gifts being there on Christmas, they will spend time with their family, watch a movie, and eat dinner together, and perhaps pick up a few gifts after the holidays when things are more heavily discounted. People can adjust well if they know what to expect in advance.”
